Some months ago, I decided to reduce the number of shows we do and the number of staff on our stand. I went back to working all the shows myself, only having an extra pair of hands when the show demanded it. At the time, it felt like a step backwards.
Three months down the road, and we are seeing the benefits of this decision. With higher sales, lower costs and profitable shows. For the first time in a few years, the business is generating a surplus of money each week and consequently is becoming significantly easier to run.
I realise now how stressful money worries are. When money is tight, and we are juggling who to pay next, it consumes my time and saps my energy. In previous years, I would dread the phone ringing, knowing that it would be someone asking for money.
This year is entirely different. We are focused on making a small profit and not trying to grow the business massively. I’m accepting our size as it is. Happy to be where we are rather than thinking a bigger business tomorrow must be better.
Rather than trying to grow our sales as a way out of cash flow difficulties, I’m cutting expenditure to make a profit from the sales we have.
This change has been the most liberating experience. I feel like a weight has been lifted off my shoulders. It’s incredible how quickly this simple approach has transferred our tight financial situation into one where we have a good surplus in our bank account at the end of each week.
Are you caught in the same pattern of spending money you don’t have or robbing “Peter” to pay “Paul?”
The best advice I can give is to stop digging!
Stop spending on everything but absolute essentials. Do you really need the movie subscriptions, the fresh flowers, the new car, the weekend break, the latte, the meals out, the takeaways, or even, dare I say it the candles!
Spending money that you can’t afford on non-essential things is crazy. It won’t make you feel better, happier, or more at peace. All it does is add to your stress, increase your worries, and make you feel bad.
It may be old fashioned to live within your means, but I promise you, it is the way to long term happiness. Stop worrying about what other people think. You don’t need to impress them with your latest purchase.
Instead, let them see the simple warm glow of contentment which comes from being happy with what you have. Know you are enough right now. You have everything you need inside, to live the life today, that you have always dreamed of.
Remember, we climb the mountain, not in giant leaps but one small step at a time.